Alcohol can enhance memory for events that occurred just before drinking. This facilitating effect of alcohol on a particular phase of memory, namely memory consolidation, highlights the importance of the excitatory effect of alcohol. Excitatory effects of alcohol may be particulary important for understanding the rewarding and reinforcing action of alcohol that are involved in drug-seeking behavior. We have conducted comparative analyses between the facilitative effects of alcohol on memory and other drugs with a high potential for abuse. We have examined the possible role of reward systems in the memory enhancing and euphorogenic effects of alcohol.